VIRGINIA BEACH, Va. (AP) — VIRGINIA BEACH, Va. (AP) — Wheeler Real Estate Investment Trust Inc. (WHLR) on Tuesday reported a key measure of profitability in its fourth quarter.
The Virginia Beach, Virginia-based real estate investment trust said it had funds from operations of $3.4 million, or $18.46 per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $32 million, or a loss of $3.79 per share.
The real estate investment trust, based in Virginia Beach, Virginia, posted revenue of $27.6 million in the period.
For the year, the company reported funds from operations of $7.2 million. Revenue was reported as $104.6 million.
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